B2B eCommerce is on the rise. As of 2019, B2B eCommerce had about 13% of the B2B market share, but it’s forecasted to rise to 17% of the market by 2023, which is a big jump. As millennials continue to enter the workforce and rise into positions where they make B2B buying decisions, B2B eCommerce will continue to grow.
But to take advantage of B2B eCommerce, you need the right B2B eCommerce platform – like Magento Commerce. With its wide variety of B2B-focused features, Magento Commerce can help B2B companies boost sales, provide a better customer experience, and reach their organizational goals.
So in this blog, 121eCommerce will be taking a look at Magento’s Corporate Account Management features, which are heads and shoulders above competitors like Bigcommmerce, Shopify, and WooCommerce. Without further ado, let’s take a deeper look at Magento Corporate Account Management.
1. Customizable Account Setup For Multiple Buyers & Layered Organizational Structures
First and foremost, Magento Commerce offers a fully-customizable account management system that can accommodate organizations of all types and sizes.
Each Magento store can be set up with multiple buyers, and individual B2B buyers can be assigned their own roles, credit limits, custom rules to manage the products that they can purchase, and more.
So even if you sell to companies with complex, layered organizational structures, you’ll be able to set them up for success with Magento Commerce and its Corporate Account Management features, providing them with a seamless and enjoyable B2B eCommerce experience.
2. Powerful Front-End Self-Service Features
With Magento, you don’t have to spend time performing administrative tasks for your buyers, unlike some other B2B eCommerce platforms. That’s because Magento Commerce offers a variety of powerful front-end self-service features.
What this means is that individual companies can assign specific roles and permissions to buyers on their own – without requiring you to lift a finger.
For example, if you sell to a B2B company and their previous buyer leaves the company, Magento Commerce allows the company to disable that account, and then assign a new role and permission to a new buyer.
This means your users will have an easier time setting up new accounts, and it also decreases the amount of administrative busywork for your team – that’s a win-win.
3. Create & Use Sub-Accounts To Place Order On The Behalf Of Buyers
There are some buyers who may prefer not to place their own orders, even on an eCommerce store. And Magento’s Corporate Account Management tools have been built with this in mind.
Using Magento, you can create sub-accounts to purchase items on the behalf of a particular buyer. The process is quick and easy and allows your sales team to seamlessly place orders and purchase items on the buyer’s behalf.
It’s 100% secure, too, providing your buyers with peace of mind throughout the B2B eCommerce process.
4. Advanced Self-Service Order, Quote, Credit & Inventory Tracking Features
Magento Commerce helps B2B buyers enjoy a streamlined shopping experience through its advanced self-service features. These include:
- Order management – Buyers can quickly get an overview of their orders, their shipment status, the cost of each order, and other information using an intuitive and easy-to-use order management system.
- Quotes – Magento has a fully configurable quote system that allows buyers to collect a variety of products into a single shopping cart and then submit it for a quote. From there, B2B customers even have the option of negotiating prices by submitting a request to negotiate directly from the shopping cart.
- Credit management – Magento’s Company Credit page allows customers to view their current outstanding balance, available credit, total credit limit, and a list of outstanding invoices, providing an at-a-glance overview for each B2B customer.
- Inventory tracking – Magento Commerce can be configured to provide B2B buyers with an overview of all available inventory and stock at your store, ensuring they have the information they need to make a buying decision. This also helps reduce customer support and sales inquiries.
5. Shareable & Editable Carts Can Be Used With Multiple Buyers In One Company
Magento allows B2B companies with multiple buyers to enjoy a more streamlined shopping process. As part of the Corporate Account Management feature set, Magento allows multiple buyers to use a single shareable and editable cart.
Updates made by each buyer will immediately be reflected in the cart, ensuring that one or more buyers can collaborate seamlessly while shopping on your B2b eCommerce website.
Better Corporate Account Management Features Mean More Satisfied Customers
Magento’s corporate account management features make it a lot easier to manage B2B customers on your eCommerce store, and that leads to more sales and higher customer satisfaction.
But that’s just the tip of the iceberg. If you want more information about Magento’s B2B capabilities and features, check out this whitepaper from 121eCommerce – or feel free to get in touch with us for a consultation.
As experts in Magento Commerce and B2B eCommerce, the team at 121eCommerce can help you explore the benefits of the Magento platform in more detail, and explain why it’s the best choice if you’re looking to expand into the growing B2B eCommerce market segment.